Mill Valley Real Estate Report (January 2013 Home Sales Update) | Pacific Union International

Mill Valley’s real estate market has continued to post extremely positive number through the end of the year — the sales total for Decemeber 2012 was 26. These properties sold for an average price of about $1.031 million and averaged 2,157 sq. ft. (or about $495 per sq. ft.). Like all towns in Marin County, Ca, Mill Valley home sales have been supressed by a very low inventory of homes for sale. Despite the scarcity of homes available, however, pricing remains the key variable determining buyer interest levels and salability. For now, buyers continue to expect readily apparent value (with an emphasis on turn key homes). If Buyers do not see apparent value in a particular property, they seem to be more than willing to wait for something new. Indeed, it will interesting to see what happens with buyer proclivities in the new year.

The number of listings actively on the market in the MLS has decreased to the point of extreme scarcity (there are only 22 homes on the market in all of Mill Valley as of this writing). The absorption rate in Mill Valley currently stands at just under 1 month (6 months is considered “balanced”).

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